RECENT DEALS for May 16th
This retail complex at 295 Ti Rakau Drive sold for $5.4 million.
East Tamaki retail complex
A 3997 sq m renovated two level retail complex, converted from office/warehouse use on a 6075 sq m Business 5 zoned site at 295 Ti Rakau Drive, East Tamaki,has sold by tender for $5.4 million at a 10.2 per cent yield through Ranjan Unka of Bayleys North Shore Commercial, Katie Wu of Bayleys South Auckland and Dickie Nam of Bayleys international division. Featured in Bayleys Total Property portfolio it comprises 13 units with a mix of predominantly ethnic food and beverage and restaurant tenancies.
Private investors shop
John Stringer and David Palmer of Barfoot & Thompson Commercial have sold a block of six shops on one title at 210 Richardson Rd for $1.5 million. The also sold a block of three shops on one title earning $43,725 per annum at 149 Line Rd, Glen Innes, for $1,020,000 or a 4.3 yield. Both properties were purchased by private investors.
Zone 23 office/showroom
A 245 sq m office/showroom unit plus seven car parks in the Zone 23 complex with two years remaining on a six-year lease at 23 Edwin Street, Mt Eden, was sold for $1,150,000 at 7.6 per cent yield prior to auction by Clint Barber of Bayleys Auckland.
CBD high rise space
High rise Auckland CBD office space of 240 sq m on Level 10 at 126 Vincent St along with three secure car parks has been sold by Jonathan Lynch of Colliers International for $625,000.